Overview of Enforced Localisation

The world is unprepared for the oil peak when it occurs in 2007. The European central bank panics and increases interest rates in order to try and control inflation. Instead of allowing the increases in energy prices to work their way through the markets, business is stifled by increasing costs on all sides.

The lack of demand for energy causes a drop in price and supply is once again able to meet demand, but as the economy picks up, the need for fossil fuel generated energy also increases and since there has been no investment in alternatives, this quickly leads to supply shortages and the cycle repeats itself.

By 2015, oil prices are low, but unemployment high and business people are reluctant to invest having been stung by the instability of the previous years. Those businesses that survive are focused on delivering locally sourced products to local markets.